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week ending November 15th, 2019
As employees plan for retirement, a key to being ready is to accumulate as much savings as possible. With the new IRS limits, plan participants are able next year to put more into their retirement plans. There seems to be a link between the investment menu defined contribution (DC) plan sponsors offer participants and how much the participants save. Helping participants understand the tax benefits of saving in a retirement plan would encourage plan participation, and explaining the negative consequences of taking money out of their savings may help stop leakage. Research shows that employees are also looking to invest their assets in health savings accounts (HSAs) to accumulate more for retirement health care expenses. And, actuary groups say a better understanding of longevity can help employees plan for investment strategies in retirement and health care expenses, among other things. Enjoy this edition of PLANSPONSOR Weekend!
Editor's Choice
Investing
The Role DC Plan Investment Menus Play in Participant Savings
Do managed accounts or larger investment menus encourage participants to add more to their DC plans?
Administration
Helping Participants Understand Tax Considerations for Retirement Plans
Understanding all the tax implications of qualified retirement plans can be daunting, but there are a few key things participants should know.
Administration
Ways to Combat Pervasive Leakage
The Savings Preservation Working Group says that at least 33% and as many as 47% of plan participants withdraw part or all of their retirement savings when switching jobs.
Benefits
HSA Holders Looking to Invest, But What Will They Find?
Although investment menu designs are better, there are still improvements that can be made and items plan sponsors should evaluate when selecting an HSA provider.
Products
Actuary Groups Update Longevity Calculator
A better understanding of longevity can help employees plan for investment strategies in retirement and health care expenses, among other things.
Popular Reads
2020 Recordkeeping Survey
Opinions
How to Tell If You’re Paying Reasonable Fees for Actuarial Services
Leslie Olds, with Strategic Benefits Advisors, discusses how DB plan sponsors can determine whether actuarial fees are in line with services provided.
Compliance
Aon, Alight Win Judgment in Hospital PRT Lawsuit
A federal judge found Aon Hewitt acted prudently, after hearing testimony about the firm’s investment actions and contractual obligations.
Investing
Balancing Fiduciary Duty With ESG Demand
As desire for sustainable investments increases, retirement plan sponsors are still cautious about offering ESG funds while regulatory guidance is stalled.
Compliance
Court Decision Emphasizes Need to Ensure Accuracy of Online Communications
In a decision in favor of a plan sponsor and provider, a court took a moment to contemplate whether an online request met the ‘written request’ requirement to claim a violation under ERISA.
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